signaled a purely successful development, with manufacturing declining in January but retail sales growing moderately and exports showing the india phone number list sharpest growth in ten months. However, this relatively good news relates to the time when the symptoms of the coronavirus had not yet begun to show. Līva , chief economist of bank india phone number list latvia in latvia, explains how the spread of the disease in the world could affect the economy. At the beginning of the year, the global economy seemed to be able to breathe a sigh of relief, and the uncertainty surrounding the trade wars that were holding back.
Covid-19 has emerged as a new, very serious source of uncertainty and growth. If initially the concern was mainly about the impact of the india phone number list virus on china, which is extremely important for the world economy, and its pace of development, now it is clear that the spread of the virus will continue to expand, directly affecting Latvia's trading india phone number list partners and ourselves. Before talking about individual sectors of the economy, it should be noted that sick, potentially ill, quarantined people, as well as those who care for children left behind due to closed educational institutions, have a significant impact on economic activity on both the supply.
Depending on the number of such people, this can mean both labor shortages and the inability of companies to produce products or services, and a significant reduction in demand and spending, minimizing their exposure to the outside world. Demand will also india phone number list fall on the part of people who stay home due to job closures, especially as it is not clear whether and to india phone number list what extent and for how long these workers will continue to receive their wages. Economic chain reactions in terms of sectors affected, tourism and transport (especially air transport) were the first on the front line. Hotel reservations and tours organized by tour operators around the world.